Are you searching for passive income? Then look no further! Listed below are a couple of ASX dividend stocks that analysts rate as buys.
Here's what analysts are expecting from them with respect to yields in the near term:
South32 Ltd (ASX: S32)
If you're not averse to investing in the mining sector, then South32 could be an ASX dividend stock to buy.
Goldman Sachs is very positive on the mining giant. This is due to its belief that the company is well-placed thanks to the favourable outlook of key commodities that it produces.
Its analysts are expecting this to underpin fully franked dividends of 9 US cents (13.1 cents) in FY 2023 and then 16 US cents (23.2 cents) in FY 2024. Based on the current South32 share price, this will mean yields of 3.4% and 6%, respectively.
Goldman has a buy rating and a $4.10 price target on South32's shares.
Universal Store Holdings Ltd (ASX: UNI)
Another ASX dividend stock for income investors to consider buying right now is youth fashion retailer Universal Store.
Morgans believes the recent weakness has created a buying opportunity for investors. Particularly given its belief that "UNI is a well-managed business with opportunities to grow through multiple avenues."
As for dividends, the broker is expecting the retailer to be in a position to pay fully franked dividends per share of 27 cents in both FY 2023 and FY 2024. Based on the current Universal Store of $3.07, this will mean yields of 8.8% in both years.
Morgans has an add rating and a $4.20 price target on its shares.
